UPDATE 1-Morgan Stanley hires Goldman veteran

* Lauto will be a managing director in New York

* He spent more than 30 years with Goldman Sachs

* Morgan Stanley is expanding trading operations
(Updates sourcing, details, and background on past hires)

NEW YORK, Feb 4 (BestGrowthStock) – Morgan Stanley (MS.N: ) (Read more about the money market today. ) has hired
a Goldman Sachs Group (GS.N: ) veteran to help lead the firm’s
equity-trading business, according to an internal memo, the
latest in a series of moves designed to bolster the firm’s
sales and trading operations.

Anthony Lauto, who spent more than 30 years with chief
rival Goldman Sachs, will join Morgan Stanley’s New York office
as a managing director, the memo said.

Morgan Stanley — widely seen as mistiming its pullback
from risk — began building up its sales and trading ranks in
the second half of 2009 as it planned to hire as many as 400
people. The hires were targeted to Morgan Stanley’s foreign
exchange, emerging markets and equity derivatives businesses.

The firm in July hired Jack DiMaio, a former Credit Suisse
Group AG (CSGN.VX: ) fixed-income head for North America, as
global head of interest rate, credit and currency trading.

But weak trading results still weighed on Morgan Stanley’s
fourth-quarter earnings. Morgan Stanley’s trading revenue
dropped 65 percent to $1.1 billion in the fourth quarter from
$3.2 billion in the third quarter. [ID:nN19222799]

Bloomberg News first reported the hire.

Stock Investing

(Reporting by Shailesh Kuber in Bangalore and Steve Eder in
New York; Editing by Valerie Lee, Dave Zimmerman)

UPDATE 1-Morgan Stanley hires Goldman veteran